Bankruptcy Filings Going Down: Do People Still Need the Services of a Bankruptcy Attorney in AZ?

July 2411:502017

The number of bankruptcy filings went down in Arizona in 2016. However, the market economic situation shows that the services of a bankruptcy attorney in AZ will be in high demand for years to come.

The number of bankruptcy filings in Arizona has been going down over the last couple of years. In 2016 it went down by 10% and it’s been getting a bit lower in 2017. Many people started to think that they might avoid the need to go looking for a bankruptcy attorney in AZ. However, the current economic situation and some shocking recent bankruptcies indicate that not everything is well.

In fact, the situation might get a sudden turn so the filings will start climbing in numbers again. It’s already happening in some areas. For example, there have been over 7% more cases of Chapter 13 bankruptcy in the state in 2017 as compared to the same period in 2016. This means that the Pew Law Center, which has extensive experience with these types of cases, aren’t going to run out of business.

Shocking Bankruptcies of 2017: More Work for a Bankruptcy Attorney in AZ?

Quite a few companies filed for bankruptcy in 2017, and most of them are reputed nationwide brands. The most recent news that caused distress to thousands of Americans come from Gymboree (children’s clothing) and Alfred Angelo (bridal gowns). These retailers, that have thousands of customers, both filed for bankruptcy just this summer.

This resulted in the closing of hundreds stores and a small army of upset customers. The Alfred Angelo Bridal case is particularly stressful for brides who are stuck with no information on whether they’ll get their dresses. Some of the customers report that they’ve filed orders a few months in advance. They are left hanging now with the sudden bankruptcy news disrupting the preparations for the big day.

These cases show that the recent upturn in the economy isn’t as promising as it might seem. A bankruptcy of such a big business means hundreds of lost jobs, which leads to the increase of personal bankruptcies.

Finding a Reliable Bankruptcy Attorney in AZ

One thing can be said for sure in regards to any bankruptcy. To make it smooth and least stressful, one requires the services of a bankruptcy attorney. Arranging a consultation at https://www.pewlaw.com/ can help one understand their options. This enables a person to take steps towards protecting themselves and their families before the situation gets out of control.

Pew Law Center lawyers have years of experience in filing Arizona bankruptcies and can help one preserve as much of their assets as possible.